On March 15, the Ethereum blockchain hosted an auction for the NFT of the original image of Achi wearing a woven beanie. Achi, the Shiba Inu featured in the “Dogwifhat” meme, was the pet of a South Korean Instagram user, according to their revelation. Because of the well-known “Dogwifhat” photo, the owner of the Shiba Inu has now amassed 4.3 million dollars in riches.
The user who posted the NFT has been confirmed as Achi’s true parent, according to partners in the Achi NFT auction. The 2018 photo that the Shiba Inu has as its emblem was taken by Ma_babezz, a South Korean Instagram user. November saw the introduction of Shiba Inu as a memecoin shortly after. With a $2.8 billion market, Shiba Inu has emerged as the fourth most sought-after memecoin in the cryptocurrency sector.
Strong demand and higher trading volume for meme-coins point to their enormous upside potential. GCR and Memeland engaged in a fierce bidding battle after the sale of Shiba Inu. After a one-hour battle for the Shiba Inu “dogwifhat” shot, GCR offered 1,210.759 ETH and won the auction. The original meme can be examined as a non-fungible token (NFT) that complies with the ERC-721 protocol by using this Etherscan address. The winner of the auction was handled by Foundation designer Chris Biron.
Because the NFT was coined on Ethereum, the Achi NFT auction on Foundation caused a great deal of controversy. Shiba Inu has long been linked to Solana memes, thus Solana fans took to Instagram to voice their disapproval of Achi’s decision to collaborate with Feisty DAO. The owner of the Shiba Inu received assistance from Feisty DAO, an NFT startup well-known for offering fractionalized NFTs with a Shiba theme on Ethereum, in listing the picture on the Foundation marketplace.